Examlex
The geographical term "situation" refers to a place's location relative to other places and human activities.
Functional Currency
The primary currency of the main economic environment in which an entity operates.
Asset And Liability Account Balances
The respective values of a company's current and non-current assets, and its current and long-term liabilities at a point in time.
Local Currency
Refers to the legal tender or official currency that is used within a country's borders.
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